Type 2, Low Relief

Ron Guth: In 1922, the relief of the Peace Dollar was lowered to alleviate the weak strikes that had been a common theme on the high-relief 1921 Peace Dollars. The mintage of the 1922 Peace Dollar sky-rocketed to nearly 52 million pieces, setting a record for the entire series; the lowest mintage Peace Dollar is the 1928. A few Matte and Satin Proof 1922 Peace Dollars were produced, in both high-relief and low-relied formats; all are extremely rare and valuable today. No Proofs of any sort were made for the remainder of the series.

Key dates in this series include the 1928 and 1934-S. Some dates, such as the 1924-S, are notoriously rare in Gem condition and fetch huge premiums in top condition. On the other hand, a set of circulated Peace Dollars can be built with relative ease. For most dates, the bulk of their value comes from their silver content, which fluctuates with the daily price of silver.

Varieties include the 1934-D Double Die Obverse, 1934-D Large and Small Mintmark, and 1935-S with either three or four rays below ONE on the reverse.